Half-year Report

19 December 2024

Marechale Capital plc

("Marechale Capital", “Marechale” or the "Company")

Half-yearly Results

Marechale Capital plc, an established City of London based corporate finance house with a long-term track record and a strong reputation for advising and financing high growth consumer brands, leisure, clean energy, mineral extraction and technology companies, announces its unaudited half-yearly results for the six months ended 31 October 2024 (the “Period”).

Chairman’s Statement

Following the announcement with Marechale’s full year results released in August 2024, the market continues to remain challenging, particularly in the hospitality sector.

During the six months ended 31 October 2024, the Company generated gross profits of £103,468 (2023: £93,813) and delivered an operating loss of £138,485 (2023: loss of £155,421 ), resulting in an overall loss before tax of £178,261 (2023: loss of £155,803).

The Company’s balance sheet shows a net asset value of £3,183,537 (2023: £3,340,486 ), representing 3.01p (2023: 3.15p) of value per share in issue. The Company remains positive about the investments that it holds in its client companies.

Marechale Capital continues to see interesting corporate finance and advisory projects where it can take founders shares and warrants as part of its advisory fees. On a positive note, Marechale has completed transactions during the period for Weardale Lithium, Forest Road Brewery, Stubben Edge and Chestnut Inns. However, the market remains a difficult environment in which to raise capital. This has resulted in some advisory projects that launched in the summer not being completed by the end of the Period which includes a major UK hotel group and a leading brewery and pub group. Marechale continues to look for new and strategic funding partners alongside its traditional investor relationships.

The Board is working on a number of initiatives to create further value for shareholders over and above its core investment portfolio and corporate finance projects, including working with various potential businesses and individuals. The plan is to continue to develop Marechale’s strategic partnerships with the objective of enhancing shareholder value.

Marechale also uses its balance sheet to co-invest in its client companies, along with warrants and founder equity. Furthermore, the Board is able to announce a partial realisation of £109,000 for cash on two of the Company’s investments. Cash at bank at 31 October 2024 was £223,700.

Whist the current economic climate is difficult, Marechale Capital remains diligent and is convinced that there will be good advisory and investment opportunities in its core hospitality, renewable, clean energy and technology sectors over the short to medium term.

Mark Warde-Norbury

Chairman

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014

For further information please contact:

Marechale Capital Mark Warde-Norbury / Patrick Booth-Clibborn	Tel: [phone]
Cairn Financial Advisers LLP Jo Turner / Sandy Jamieson	Tel: [phone]

Income Statement (unaudited)
6 months ended 31 October						2024		2023
						£
Revenue						148,500		320,603
Cost of sales						(45,032)		(226,790)
Gross profit						103,468		93,813
Administrative expenses						(241,953)		(249,235)
Operating loss						(138,485)		(155,421)
Exceptional credit						10,316		-
Loss on disposal of investments						(49,837)
Interest paid						(255)		(382)
(Loss)/profit before tax						(178,261)		(155,803)
Taxation						-		-
(Loss)/profit after tax						(178,261)		(155,803)
(Loss)/profit per share
						(Pence)		(Pence)
	- Basic					(0.17)		(0.15)
	- Diluted					(0.17)		(0.14)

Balance Sheet (unaudited)
As at						31 October	31 October
						2024	2023
Current assets
Available for sale investments						2,939,660	2,863,227
Trading investments						49,953	130,076
Trade and other receivables						52,856	37,219
Cash and cash equivalents						223,712	398,229
						3,266,181	3,428,751
Current liabilities
Trade and other payablesPAYEBounce-back Loan						(54,338)(10,806)(10,000)	(51,278)(9,847)(10,000)
Total current liabilities						(75,144)	(70,765)
Net current assets						3,191,037	3,357,986
Bounce-back Loan – long-term						(7,500)	(17,500)
Net assets						3,183,537	3,340,486
Equity
Capital and reserves attributable to equity shareholders
Share capitalShare premium						847,530481,290	847,530481,290
Reserve for own shares						(50,254)	(50,254)
Retained profits/ (losses)						1,739,397	1944,842
Reserve for share based payments						165,574	117,078
						3,183,537	3,340,486

Cash Flow Statement (unaudited)
6 months ended					31 October	31 October
					2024	2023
					£	£
Net cash from operating activities
Loss after tax					(178,261)	(155,803)
Reverse exceptional credits					(10,316)	-
Loss of disposal of investments					49,837
Provision for share based paymentsReverse interest paid					15,406255	33,091381
Operating cash flows before movements in working capital					(123,079)	(122,331)
Movement in working capital
(Increase)/ decrease in receivables					(7,950)	38,714
Increase/ (decrease) in payables					3,108	(30,795)
Net movement in working capital					(4,842)	7,919
Operating cash out-flow					(127,921)	(114,412)
Investment activities
Expenditure on available for sale investments					-	572
Proceeds from sale of investments and options					108,692	-
Cash flow from investing activities					108,692	(572)
FinancingShare CapitalBounce-back Loan repaymentsInterest paidNet financing					-(5,000)(255)(5,255)	235,800(5,000)(381)230,419
Net (decrease)/ increase in cash and cash equivalents					(24,484)	115,435
Cash and cash equivalents at start of the period					248,196	282,794
Cash and cash equivalents at end of the period					223,712	398,229
(Decrease)/ increase in cash and cash equivalents					(24,484)	115,435

This financial information has been prepared in accordance with IFRS and International Financial Reporting Interpretations Committee ('IFRIC') interpretations adopted by the European Union, and with those parts of the Companies Act 2006 applicable to companies reporting under IFRS, with the prior period being reported on the same basis.

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